2021 Biopharma Outlook: Turning Uncertainty Into Opportunity
A singular focus on defeating COVID-19 will likely dominate the biopharma agenda at the beginning of 2021 and will determine how quickly the industry, and world, can bounce back to something like normalcy. New digital capabilities and learnings will continue to emerge as the pandemic ebbs, and strong industry balance sheets will keep the deal volume moving, according to experts and executives.
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Biohaven Pharmaceuticals developed six different value-based contracting options to support the launch of acute migraine therapy, Nurtec ODT. Despite contract complexity and lingering regulatory risk, payers are aggressively pursuing value-based contracts, leading even small biopharmas to invest in strong health economics capabilities.
At the end of December 2020, Kenneth Kaitin retired as director of the Tufts Center for the Study of Drug Development after 23 years in the role, and 35 years working with the CSDD. Kenneth Getz, previously professor and deputy director of the CSDD, succeeds Kaitin as director in 2021.
Last year Bristol Myers Squibb teamed up with GRYT Health to create a virtual conference and information hub geared toward connecting patients and advocates with industry leaders, clinicians and other health experts. In 2021, the COVID Advocacy Exchange will create formal working groups to address ongoing needs identified by the Exchange’s growing number of users.